June 22, 2021

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Carl Nassib of the Raiders made history Monday by coming out as the first active openly gay player in the NFL.

Qatar Expects $20B Economic Boost from World Cup

FIFA/Design: Alex Brooks

Qatar has very big plans for next year’s World Cup.

The country built a new city, stadium, and metro station — and expanded its airport — in anticipation of the world’s greatest soccer spectacle. Collective building costs total $300 billion, per Bloomberg.

Hassan Al Thawadi, head of the Qatar’s organizing committee for the event, told Bloomberg that the World Cup can “accelerate a lot of the initiatives the government has already committed to … whether that’s in terms of urban development or economic diversification.”

The potential windfall from hosting the World Cup is alone significant enough to warrant speeding up construction.

“We anticipate the contribution to the economy essentially would be around $20 billion,” Thawadi said.

However, Qatar is also facing the threat of boycotts.

  • Some media outlets and fans — including 59% of U.S. fans — say teams should boycott the Qatar due to human rights abuses in the country.
  • The 2022 Beijing Olympics have been the target of criticism for the same reason.

Last year, the U.S. Department of Justice said representatives for Russia and Qatar bribed FIFA officials to win their hosting rights for the 2018 and 2022 competitions.

Despite the controversy, Qatar is expected to draw as many as 1.5 million visitors for the World Cup. The government announced Sunday only fully vaccinated spectators will be allowed to attend.

Amazon Wants All The Live Sports

Chuck Cook-USA TODAY Sports/Design: Alex Brooks

Amazon has a foot in the door with America’s most popular sport, but it’s advanced even further with Europe’s. 

The company has over 200 million Prime subscribers and is using sports streaming as a way to ensure they stick around long past the pandemic.

Amazon is buying up European soccer rights — taking advantage of pandemic-related conditions that weakened local broadcasters’ balance sheets while ballooning its revenue to $108.5 billion in Q1 2021 alone.

  • The Premier League agreed to roll over its $7 billion in broadcast deals to 2025, which includes a 20-game package with Amazon. The company’s 2019 broadcast of league matches coincided with a record number of new Amazon Prime subscriptions in the U.K.
  • Amazon signed a three-year deal to broadcast Ligue 1 and Ligue 2 games for $893.6 million.
  • In December, the company inked a deal to show Champions League games in Italy from 2021-2024 for a reported $96-108 million per year.
  • Spain’s La Liga modeled its broadcasting rights packages after the deal Amazon signed with the Premier League, perhaps in the hopes of luring Bezos & Co. into a deal. 

Everyone who has Amazon Prime — even if primarily for faster shipping — can watch the matches. The online retail giant airs New York Yankees games and French Open matches, too.

Amazon recently secured its first exclusive NFL deal — a 2022-2033 agreement to broadcast “Thursday Night Football” at $1 billion a season — and may pursue a deal to bring in Peyton Manning as an analyst.

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Pandemic-Fueled Golf Boom Here to Stay

TaylorMade/Design: Alex Brooks

The demand for golf-related goods has skyrocketed enough to cause supply chain delays, and manufacturers are trying to combat the issues by using overseas factories. 

“There are no factories anywhere around the world that predicted this kind of growth,” PGA Tour Superstore CEO Dick Sullivan told CNBC.

The PGA Tour Superstore just reported a 55% increase in overall year-to-date sales compared to 2019. 

Golf’s popularity exploded during the pandemic, and the surge in interest remains even as the country opens up.

The PGA Tour Superstore isn’t the only entity benefiting, either.

  • Centroid Investment Partners, a South Korea-based private equity firm, acquired TaylorMade Golf for $1.7 billion in May, the largest acquisition ever in the golf goods industry.
  • A recent report by financial advisory firm Duff and Phelps projects that 18 current professional golfers will make more than $100 million in future earnings before they turn 50.

Mini-golf’s stock is also rising.

Last month, Puttshack — a mini-golf venture known for its sophisticated ball-tracking and scoring tech — completed a growth capital round of $60 million, led by Promethean Investments.

Bears Latest NFL Team Eyeing Massive Stadium

Rich Barnes-USA TODAY Sports/Design: Alex Brooks

The Dallas Cowboys and Jacksonville Jaguars have expanded their stadiums into year-round commerce areas. Now the Chicago Bears want to get in on the fun.

The team submitted a bid to purchase Arlington International Racecourse as a potential site for a new stadium.

  • Their current lease at downtown’s Soldier Field runs through 2033.
  • The 326-acre horse racing facility in Arlington Heights is about 30 miles from downtown Chicago but would be conveniently located for many of the team’s fans in the northern half and northwest suburbs of the city.
  • A new stadium could also allow the team to expand capacity beyond Soldier Fields’ 61,500 — as well as build a stadium with a roof that could attract events like the Super Bowl and the Final Four.

The Bears would be following the lead of teams like the Cowboys in creating a multi-use mega stadium complete with restaurants and shopping centers. The Jaguars are planning a $441 million football facility next to their stadium.

Not every team is going that route, however. The Buffalo Bills’ new stadium is likely to be much like their current one.

The Bears are currently in talks with the city on renovations, and Chicago Mayor Lori Lightfoot called the racetrack bid a “negotiating tactic.” Soldier Field’s 2001-2003 renovation cost a reported $733 million, including $432 million in taxpayer dollars. 

The Arlington Racecourse is currently owned by Churchill Downs, which has said that it will not operate the track beyond this year.

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Conversation Starters

Conversation Starters

  • Comcast is providing credits to customers following canceled broadcasts of sports during the pandemic. This marks the third time refunds have been issued since October. 
  • Euro 2020 continues to pull in impressive viewership numbers. Friday’s England- Scotland match drew an average of 18.4 million UK viewers, the most-watched match of the event so far.
  • Ralph Lauren is now the exclusive fashion outfitter of G2 Esports, a Berlin-based competitive gaming organization.
  • The Open, back at Royal St George’s Golf Club for the first time in a decade, will host 32,000 fans each day at the tournament in July.

Question of the Day

When was the last time you purchased sporting equipment for yourself or someone in your household?

 3+ months ago   1-3 months ago   Past month 

Monday’s Answer
41% of respondents think VR will be essential to daily life in the future.

Today's Action

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